But to let properties

[Batleyred]

I have just started looking at properties to buy to let out. I have ruled out apartments down to extra costs on rents etc. I am in west Yorkshire but do not mind buying out of this area. I have around £120.000 to purchase the property and i am trying to find a property to maximize my money. What sort of properties would maximize this ?

I have rang a few estate agents but have not got any answers really. I would let a lettings agent find me the tenants so am aware of certain costs involved. I will have no mortgage to pay so apart from insurance and lettings fees and buying the property will involve costs such as a survey etc, is their any other costs to pay out.

Many thanks

Batleyred

[boyse7en]

Batleyred said:

I have just started looking at properties to buy to let out. I have ruled out apartments down to extra costs on rents etc. I am in west Yorkshire but do not mind buying out of this area. I have around £120.000 to purchase the property and i am trying to find a property to maximize my money. What sort of properties would maximize this ?

I have rang a few estate agents but have not got any answers really. I would let a lettings agent find me the tenants so am aware of certain costs involved. I will have no mortgage to pay so apart from insurance and lettings fees and buying the property will involve costs such as a survey etc, is their any other costs to pay out.

Many thanks

Batleyred

Have you done much research into this at all?
There a raft of new costs to entering (and leaving) the BTL market along with ongoing tax changes etc. At the very least you need to do some research into those, then look at the rentable values in the areas you are looking to buy to try and establish whether you are likely make a return on your investment at all.

[Batleyred]

Thanks for that info it was something i did not know about. I would not be reliant on the rental income and it seemed a better place to have the money instead of a bank.

[Tommo Two]

Alternatively to buying your own BTL, you could invest with a property investor that has the knowledge and needs capital.

You could do that passively for good return 5-10% apr or you could cut the apr down abit on the agreement of you getting a bit more involved an learning from the investor.

[cerberaperv]

Tommo Two said:

Alternatively to buying your own BTL, you could invest with a property investor that has the knowledge and needs capital.

You could do that passively for good return 5-10% apr or you could cut the apr down abit on the agreement of you getting a bit more involved an learning from the investor.

Over the past 15yrs, I’ve worked with dozens of investors who `want to get into BTL` and I’ve built portfolios up for some, but when you actually break down the costs of BTL, crap that you will deal with, and taxes etc, you’ll normally get a reply of, well I just want a good return on my money, without the hassle.
I’ve worked with some, giving them a hands off return based on the above rates, depending on project/timescales etc and we’ve profited every time.
I’d say have a think about what you really want before jumping in. Happy to have a chat if you want to pm me. We still own a decent size portfolio but thankfully my mrs runs it and I concentrate on developing.

[Tommo Two]

As Cerb said with his 15 years experience his portfolio returns investors good returns.

A nice easy hands off approach, give property developer money, in return get more money back, all you have to do is find a good property developer, far easier than being a good property developer!